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One of Australia’s most recognised real estate names has launched a standalone business following its recently announced mega-dollar digital transformation initiative. The group is hopeful the new business will set new trends in consumer needs.
Settl, which is part of LJ Hooker’s $100 million digital transformation, has been in research and development by LJX-Lab for the past 18 months.
Expected to launch in Q2 2017, Settl will operate as a separate entity, but in partnership with LJ Hooker’s 8,000-strong real estate network.
LJ Hooker chair L Janusz Hooker said LJX-Lab is well-placed to create and commercialise prop-tech in Australasia.
“Australia is on the cusp of a wave of property innovation,” Mr Hooker said.
“We have been closely monitoring global trends for several years and have seen new models gain momentum in overseas markets. Settl will open up this new market in Australia.”
Mr Hooker said Settl was created to satisfy the needs of emerging digital native consumers, a group estimated to grow to 10 per cent of Australia’s population by 2025.
“We see the ongoing human value added from agents a critical part of real estate services into the future,” he said.
“To ensure customer satisfaction, Settl’s unique hybrid ‘online to offline’ framework aligns the agent 100 per cent with the vendor’s result.
“By developing a model that is custom-built by Australians for Australia, and scaling it with the LJ Hooker network, we will bring more choice to consumers while growing an exciting new market for the entire industry.”
Settl follows Real Edge from the LJX-Lab, a digital learning and coaching platform launched in February.
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